Vetr Inc. Downgrades Wendy’s Co. (WEN) to Hold
Wendy’s Co. (NASDAQ:WEN) was downgraded by investment analysts at Vetr from a “buy” rating to a “hold” rating in a research note issued to investors on Thursday. They presently have a $11.00 price target on the stock. Vetr‘s price objective would suggest a potential upside of 1.38% from the stock’s previous close.
Several other brokerages have also recently issued reports on WEN. RBC Capital Markets cut Wendy’s from an “outperform” rating to a “sector perform” rating and reduced their price objective for the stock from $12.00 to $11.00 in a research note on Tuesday, August 2nd. Argus restated a “hold” rating on shares of Wendy’s in a research note on Tuesday, August 23rd. Zacks Investment Research cut Wendy’s from a “hold” rating to a “sell” rating in a research note on Tuesday, July 19th. Credit Suisse Group AG restated a “hold” rating on shares of Wendy’s in a research note on Thursday, May 19th. Finally, Royal Bank Of Canada restated an “outperform” rating on shares of Wendy’s in a research note on Wednesday, June 22nd. Two equities research analysts have rated the stock with a sell rating, nine have given a hold rating and seven have assigned a buy rating to the company. Wendy’s has a consensus rating of “Hold” and a consensus price target of $12.69.
Shares of Wendy’s (NASDAQ:WEN) opened at 10.85 on Thursday. The stock has a market capitalization of $2.83 billion, a price-to-earnings ratio of 20.91 and a beta of 0.83. Wendy’s has a 12 month low of $8.43 and a 12 month high of $11.38. The firm’s 50 day moving average is $10.00 and its 200 day moving average is $10.20.
Wendy’s (NASDAQ:WEN) last released its earnings results on Wednesday, August 10th. The company reported $0.10 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.09 by $0.01. The company earned $382.70 million during the quarter, compared to analysts’ expectations of $366.92 million. Wendy’s had a return on equity of 15.94% and a net margin of 8.59%. The business’s revenue was down 21.8% on a year-over-year basis. During the same period in the prior year, the business posted $0.08 EPS. On average, equities analysts predict that Wendy’s will post $0.40 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which was paid on Thursday, September 15th. Investors of record on Thursday, September 1st were paid a dividend of $0.06 per share. The ex-dividend date was Tuesday, August 30th. This represents a $0.24 annualized dividend and a yield of 2.21%. Wendy’s’s dividend payout ratio is currently 45.28%.
A number of hedge funds and other institutional investors have recently made changes to their positions in WEN. Eminence Capital LP purchased a new position in shares of Wendy’s during the second quarter valued at $55,854,000. Norges Bank purchased a new position in shares of Wendy’s during the fourth quarter valued at $23,049,000. Renaissance Technologies LLC boosted its position in shares of Wendy’s by 1,753.5% in the first quarter. Renaissance Technologies LLC now owns 1,764,182 shares of the company’s stock valued at $19,212,000 after buying an additional 1,669,000 shares in the last quarter. RS Investment Management Co. LLC boosted its position in shares of Wendy’s by 87.2% in the second quarter. RS Investment Management Co. LLC now owns 3,276,030 shares of the company’s stock valued at $31,515,000 after buying an additional 1,526,300 shares in the last quarter. Finally, Clinton Group Inc. purchased a new position in shares of Wendy’s during the second quarter valued at $8,602,000. 81.02% of the stock is owned by institutional investors and hedge funds.
The Wendy’s Company is the parent company of its subsidiary holding company Wendy’s Restaurants, LLC (Wendy’s Restaurants). Wendy’s Restaurants is the parent company of Wendy’s International, LLC (Wendy’s), which is the owner and franchisor of the Wendy’s restaurant system in the United States. Wendy’s is the restaurant company specializing in the hamburger sandwich segment.
To view Vetr’s full report, visit Vetr’s official website.
Receive News & Ratings for Wendy's Co. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Wendy's Co. and related companies with Analyst Ratings Network's FREE daily email newsletter.